Report: Telstra not selling out of Foxtel

Despite recent rumours, Telstra has no plans to sell its 50% shares in Foxtel.

“Foxtel is an important part of our business and an important investment for us. And media is a critical part of our overall business as you’ve seen from the growth we are achieving in Telstra TV,” Telstra chief Andy Penn said.

“What’s most important to me is how we make Foxtel successful in the future. I’m not interested in selling our investment ultimately in Foxtel but if we needed to structurally change it in any way then I’m open to that.”

The Australian reports Telstra’s online streaming device, Telstra TV, is the fastest-growing in Australia with more than 622,000 of the devices now in Australian homes.

One Comment:

  1. If streaming trends continue it will be touch and go if Foxtel will be able to continue in it’s current commercial form into the future, the era of contracts and set top boxes is being made redundant by Smart TV’s and apps that only require reasonable monthly payments. The problem for Foxtel is that it has substantial infrastructure and Telstra is caught in it’s borrowing web. Apart from sports competition will be a revenue killer for Foxtel in the months and years ahead, which is not good news for Australian content or future sorting rights deals.

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